Free Forex Trade Signals.

May 31st Short GBPUSD

Yesterdays trade triggered and delivered the required 35 pips. A signficant bounce has caused me to re-assess the pair and I have decided that the correction is still playing out over a longer time frame. The new inflection point is marked and th eprice is already in that region. A turning pattern or trigger point is absent at present.

May 30th Short GBPUSD

Yesterdays forex prediction remains valid, the pair did not manage to get into my sell zone yesterday but it has now completed a 3 wave pullback that has price at the very bottom of the area Iwas looking to sell the pair in. I now need to see a valid turning signal or a trend linenew low developto take the trade. If such a trigger does develop i will post it in forex godz.

​May 29th Short GBPUSD

The set up from Friday Long USDCAD remains in the right area but the trade has not triggered. Today we are looking to get onto the fall in the GBPUSD, this has been an onging set up since I wrote about it on May 11th (scroll down to see it). Price remains in a turning point identified from the daily chart having recently broken out of a channel that has defined it for 3 weeks. I exect the current recovery to last as far as the green box in the chart and will be looking at the purple trend line to help me define a trigger, if the recovery does not make it past 1.2850 I will not take it, should the recovery be of sufficient size I will look for a short term trade of around 50-75 pips. Longer term it still looks likely the pair can get above 1.31 before a mahor correction begins, however i am mindful to the possibility that a medium top has already been set last week above 1.30

May 26th Forex Trade Set up

Yesterdays GBPNZD did not trigger as the GBP fell throughout the day and has continued to do so this morning. Thats the great thing about confirming trigger lines, it keeps you out of th emarket when things go badly. Todays forex signal is long USDCAD, the pair is at an interesting point, it is in a measured inflection point when a turn could be expected (green Box) and at the very bottom of a trend channel that has defined the pair during the whole of 2017. The 4 hour chart below shows the channel in action

At this point the waves do not count complete so another push lower could be expected. The recent turn higher which appears to be a bounce of the channel bottom failed at the purple trend line which might imply that the final push down has begun. But I am not interested in going short here, I expect a turn with significant potential to get back to the channel top. Thats 300+ pips.

This 1 hour chart shows the trade set up, to take the trade I would need to see a break of the purple trend line and a new high marked by the red trigger line. The blue line is a previous resistance and support line that appears to be important within this channel, more conservative traders might wait for a close above that line before going long

May 25th Forex Trade Set up

Long GBPNZD, my most profitable pair is currently in a measured inflection point that tries to predict the area a turn could take place. In this case the inflection point is predicting an area that a corrective wave 4 could end befoore a wave 5 rise to new highs gets going. This potential move higher coincides with the NZDUSD reaching an area that a potential turn lower could happen This multiple inflection zone across pairs often increases the chance of success. For this trade to trigger we need to see a break of the red line which will register the first new high of the uptrend before then a further low cna not be ruled out as these inflection points are not precise points just areas. If the trade goes live I will post it in the TRADES BLOG.

May 24th Forex Trade Set up

Yesterday I presented an argument for a stronger Euro and last week I called for a lower GBP, neither of these have made much progress so far but todays idea combines them both for a lonf EURGBP. The price may have completed a three wave pullback, quite a shallow one, and be about to register a new high. The shallowness of the pullback suggests that a long trade if taken will be of short duration. The trigger will be a close above the red line on the hourly chart.

May 23rd Forex Set up

The ongoing weakness for the USD and the strength for the Euro has led me to re-think my forecast for the EURUSD, I did have a view that the pair would top around 1.12. I have come up with a more bullish path for the price which suggesst that 1.16 is a more likely top than 1.12. The longterm pattern has adjusted slightly, I thought it was merely retracing the most recent fall from November last year but it now looks more likely that the move from may 2014 is in partial retracement by means of a flat (for wave traders). I have put a trigger line on the chart, i will take the trade when it makes if it makes a new short term high, i will allow my stop loss to follow the purple trend line.

May 22nd Forex Trade set up for a new week

The USDJPY is at an interesting juncture, it fell heavily in the middle of last week and has traded in a narrow rangebound channel since then failing to make new highs or lows. The next few hours could set the tone for the coming week, if the USDJPY can move higher above the red rigger line and continue to make a new high at 111.72 then it may be signalling a risk on environment. Although USDJPY would not be my favourite pair to buy (EURJPY remains the best looking of the yen pairs) the USDJPY is needed to make any of the others a high probability set up. So the plan for the begining of th eweek is to watch USDJPY for a signal about the way the yen is going, if the yen is heading down I will be buying the EURJPY, NZDJPY.If the USDJPY trades below the channel then all bets are off and I will be looking for opportunities to sell the CAD, AUD and GBP

May 19th Forex Trade Set up

Long EURJPY, this trade was highlighted on May 17th, if you scroll down a little you will be able to compare the actual path of price sith the predicted one. As you can see the prediction was pretty accurate and the pair is now approaching the trigger line for a long entry. It may be worth waiing to get a close above the line rather than just a cross, i will decide later which i am going for. Trading the Yen pairs is a little difficult at present, a Trump inspired bout of risk aversion has swept through the markes and may not be complete. With Trump heading on a tour of Saudi Arabia, Israel and the Vatican today the chance is quite high he could say something else the sends the market into a spin. Of course whie he is out of the US things might calm down.

My 18th Forex Trade set up

The big drop in the Yen pairs caught me off guard yesterday, as you can see from the charts below I was expecting a drop but nothing of the magnitude that developed. Todays forecast is for the EURAUD to complete the pullback started yesteday in 3 waves. The forecast is for the pullback to end between 1.4866 and 1.47762 as marked on the chart. This pullback should then lead to more upside, it is likely that the turn higher here will coincide with a turn lower in the AUDUSD and a turn higher in the EURJPY, both of these pairs are either in or are close to inflection points that could be the area for turning points.I will be looking to buy the EURAUD when it gets below the Ichimoku cloud on the chart and hopefully into the rectangle which is my inflection area. To activate a trade I will need to see a clearly defined trigger line which is usually a combination of a break of trend line and a higher high of some description. Should such a position arise I will post it here. I am not interested in selling here, it is risky, the pullback may not develop and price could go to new highs before any meaningful pullback. All pullback need to be of a large enough time and price that relates to the move they are correcting

May 17th Forex Trade Set up

USDJPY and EURJPY appear to be the trade potentials for today, both are pulling back from recent highs. The USD has made a bigger pullback and is already in my inflection zone where a turn higher could be expected however the Euro remains very strong against the USD and looks like it could make new highs in a number of areas. The only other trade on th ewatchlist at the moment is EurAud whuc would be a good trade given a pullback. I ma not sure the EURJPY can make it as far as the inflection box on the chart however a turn before here would be harder to buy as it would represent a shallow move that does not have the three waves I look for.

How to use these Signals

Each of these signals is a technical trade set up. These set ups are what I use to work from home as a full time trader, because each set up represents a prediction of what may happen in the future many of them do not come to fruition. I set a trigger line that I use to confirm the trade and will take a trade at that point. Many set ups do not make it to the trigger line which keeps me out of a lot of poor trades. See the Forex Results HereThose that do become live trades tend to be quite successful this is because the trigger line is the point at which we can be quite comfortable that the prediction is coming true, of course there is no guarantee, predicting the future is obviously an inexact science and is prone to error as well as unforeseen changes in the economic environment.Generally speaking I wait for a close beyond the triggerline before activating the trade but not always, you should make your own decision about this as well as performing your own due diligence about each trade idea. I try to target +35 pips with these trades and hope to be able to set a stop loss that gives me a reasonable risk reward, I try to get risk free when the trade is more than 25 pips. I am essentially a short term swing trader looking to ‘Buy the Dip’ on the major FOREX pairs, these set ups often take time to develops but if they do trigger it will usually be within 48 hours.

I have been watching the pullback in the USDJPY since last week, the grey lines were put there on Friday as part of the panned trades section. The pair has reached the target are and a nice trendline is in place. The concern her is the current weak postion of the US dollar. The DXY has broken its trendline and is accelerating towards new lows, it is due a turn but i am not sure if this is it.

May 12th Forex Trade Set up​Short NZDUSD

It is the second time I have featres this pair, the last rade worked out really well, you can read the set up in the Forex Set Ups section or read about the actual trade in the trades blog from the 10th. The sequence of swings lower is not complete, hence I am looking for one more down turn before it reaches a bottom and the US Dollar takes a more bearish turn across the board. At the moment the monetary policy diferential between the teo contries remains significant and recent RBNZ press releases imply that will contnue for sometime. The Kiwi's fortunes are linked to the terms of trade of NewZealand which in turn depends to a large extent on the price of world commodities. New Zealand is a large exporter of wooden logs and milk products, mostly into China, and the price performance of those two items is key to the prospects for the New Zealand currency. The Kiwi benefits from the carry trade, where people borrow money in low rate countries and invest it in NewZealand hence profiting the interest rate differential. The risk to this trade is currency movement and can lead to a downward spiral in the value of the currency. There is evidence that the continued fall in commodity prices is coming to an end, the end of that cycle is likely to lead to considerable rises in the commodity currencies. When we get there I will be buying the Kiwi but we are not there yet

The proposed path of the pair is shown in grey arrows, I will be looking for a top to develop towards the end of the first grey arrow, preferably in the blue box. It needs to complete the retracement before I can draw a trigger line. Please remember this is a my view of the likely path it will not be pip perfect, i will post a trigger line and trade set up as soon as one develops.

May 11th Forex Trade of the day Short the GBP

Its superthursday which means we get a bank of England rate decision and a new inflation report. This is the most market moving event of the quarter for the British pound, Mark Carney started these super Thursdays a couple of years ago and several of them have been explosive, often firing off trends that last for weeks and months. The GBP has been very strong of late making ground against all its major currency pairs, my wave counting shows two of these to be near extremes and due pullbacks, they are the EURGBP and the GBPUSD. To take the trade we will need the economic backing that may be provided in Todays data release. I will be looking for the vote on the MPC, last time one member voted for a rate increase and if its more than one member this time that would be a clear sign that we are moving towards a tightening cycle. One member Michael Saunders, sounded quite hawkish in his most recent speech and a number of financial papers are forecasting that he may have voted in favour of a hike, if so then it woud be difficult to take the trade. In the inflation report issued at the same time we get the banks forecast for inflation and economic growth. Hard data has been suggesting that the UK's consumer lead economy is starting to cool however soft data, regarding order books from industry, has been looking strong. To sell the pound we really need to see some downgrades to inflation forecasts and economic growth. If we get a full house of a vote 8-0, inflation down and growth down I ill sell the GBPUSD and buy the EURGBP

This chart below shows the 1 hour EURGBP, it has just broken a trendline and is approaching a trigger line that under normal circumstances would be compelling. Today we must wait for the data even if it means missing out on pips

Above is the GBPUSD, it has been moving in a diagonal pattern and has reached the end of the standard wave counts, again though we must wait for the data. If you scroll down a little you will see that this trade was first identified on May 4th

May 10th Forex Trade of the Day Long GBPAUD

It has been a slow few days for these trade of the day recommendations, last three have not triggered but at least that means no losses. Today we return to the GBPAUD my most profitable trade over the last two months, the upside is getting a little exhausted but i am sure there is room for one more leg higher.Technicals, I have uploaded a compete wave count for the recent rise, Wave traders will see that my counting is different from the traditiional elliot wave. I dont believe Elliott wave works so well in the current retail forex market, i have adapted it to allow for multiple corrections, even the current uptrend in the GBPAUD only counts as a series of corrections in my system. This cahnge means I look for seven waves not 3 or 5.I think we are about to head in to a strong wave 3 of 3 of c, so the third wave of the final part of a intermediate correction.The trigger line is in red and the invalidation line in green. I will post on the Trades Blog if it becomes a trade.

1pm count changed

It is not unusual, as the price action develops to change the count. This is one ofthe reasons people do not like trading wave. They forget it is not a crystal ball just a guide. The new count alters the most recent piece of the price action but doesnot change the generalidea, a new lower trigger has been added.

May 9th Forex Trade of the day Long EURUSD

The rise and fall yesterday following the results of the French election played out as a typical buy the news sell the rumour. It was also one of my favourite patterns 'The News Trap' this pattern keeps me out of loads of poor trades. The pattern goes as follows1. News arrives that fires the pair higher.2. Retail traders pile in expecting the rise to continue3. Price returns to where it was, the news actually made little differerence to the economic dynamic4. Retail traders loose their money.Now that eceonomic sense has returned the underlying fundamentals of the market which in the short term call for a higher Euro against the dollar return. Technically the pair corrected in a 3 wave movement which may have termnated with a thrust out of a triangle, the top of the triangle is now the trigger line for a long trade. The pair has ended in an inflection box, this is an area that fib ratios suggest a turn might occur. If you read my work regularly you will have realised that I do not trade standard elliot wave, I have adapted the basic principle to the forex market by looking at the market as a constant set of corrections. I hardly ever see the typical 5 up 3 down of the classical elliot wave instead I see a constantly unfolding set of corrective moves. I will be looking for the next move to extend in 3 or 7 waves to correct the latest downward correction, taks a while to get the hang of it!

May 8th Forex Trades

No clear trades: Last weeks news came in as expected ( see what it all means ) markets are churning without a tradable direction. The markets appearto be moving towards a risk on environment. This is when the market moves in unison, Yen pairs all fall and indices all rise, to get tot this stage the dollar needs to complete its pullback and the commoditiies need to complete the cycle. The market may well do this before Friday​Iwill be looking to buy pullbacks especially in the USDJPY and the EURJPY. as soon as a tradable set up arrives I will post it.

May 5th Long AUDJPY

The commodity currencies( AUD, NZD and CAD) have not made any progress against the JPY when the USD,EUR and GBP have made huge leaps forward. This is quite unusual as the Yen normally falls and rises against other currencies in unison. The Yen rises in a risk off environment, when money flows into what is considered a safe haven and falls when money flows into riskier higher return assets. Commodities have of course taken a hammering of late with oil, copper and iron suffering significant falls. Copper has reached an inflection point and oil is due a temporary pullback.The AUDJPY has a great wave count, it looks like a 1-2,1-2 is playing out and wave 3 of 3 may be about to begin. An imulsive move forward from exactly the right starting point given impetus by great RSI, stochastics and momentum readings. The trade has twopotential trigger lines and I may decide to open half a trade at each or take both. The green line would invalidate this set up.

Perfect No Trade

Technical trading is trying to identify patterns that repeat and exploiting them for profit, you are hoping to see a particular formation and predicting how it will play out. With all trades set ups I have a trigger line and an invalidation line, the trigger line is confirmation that the pattrn is playing out in the expected manner and invalidation line shows that the price action does not fit the forecast. In this case I thought I was seeing the early signs of a 1-2 1-2 wave pattern, On the original AUDJPY (left) the pattern is shown with 1,2 and (1),(2). The invalidation line is in green from the proposed wave 2 low, once this line is crossed then it was not a wave 2 low the pattern breaks down and I have to re think what is happening. The red trigger lines would have confirmed my idea but as I was wrong they never triggered. So the incorrect set up passes without any money being lost, that is as good as a win! The chart below shows price turning lower before the trigger line and crossing the invalidation line.

May 4th Forex Trade of The Day Short Cable

This trade was not taken as the asset did not satisfy the trigger condition of a new low. It may return later in the month

The FOMC meeting was as expected but seems to have reminded the market that the FED are on a tightening cycle, news flow regarding the BREXIT talks has been very negative of late and this mornngs news that the UK supermarkes are re-starting the petrol price war is very negative for inflation. This may take away the only interest rate concern of the Bank of England.The original trigger line for the trade is shown in red but I did not take it, the move down was quick and unexpected and i worry it may reverse, i may look at things first and wait for a new low. There remains the possibility for the GBPUSD to make new highs and get to the 1:31-1:32 area but i do expect it to eventually fail and fall back to the lows of the year, I like being short at the moment but need the right entry point to get short. The pound has been both strong and volatile in th elast few weeks which increases my concern about getting short.From a technical view point the redline is the kneckline of a classic 1-2-3 reversal pattern and takes place in a previuosly identified inflection area, I use fib ratios to get the inflection areas, it is also at the top of a 5 wave count from 6 weeks ago when the pair broke out of the post brexit conslidation. That consolidation fitted the elliot wave triangle near perfectly.If I take the trade I will add it to the blog.

May 3rd Forex Trade of the Day:Closed for 35 pips

A few days left for the EURO in its current bull trend. I posted this trade as aplanned trade a few days ago but the trigger line wasnot met as the pair moved lower. The fundamentals are not changed with Euro strength looking prettty good everywhere. Triggerline will be the lower of the two red ones, the previous trigger line is the higher red line and more cautiostraders might want to wit for that. Generally I will be looking for around 35 pips from these day trades but am always prepared to let them run. The higher red line is over 40 pips fromm the lower so that can act as the first target. The marked Target 1 on th echart below is an error i is meant to be th efinal targe for the entire move.I will set the stop initially at 20 pips but will keep it under revew in a dynamic manner.

May 2nd Forex Trade of the Day: Closed for +35 pips

The GBPAUD has been a good pair to trade of late, we managed to identify to significant moments when the pair moved higher in an impulsive manner. It seems unlikely that the rise is complete and we are looking for another leg towards the recent swing high and beyond. The pair has reached important downside targets, the 62% fib retracement of the last rise has coincided with a former resistance line which may have turned into support. It would not be unreasonable for the pair to travel lower still, perhaps as far as 1.6990 before turning higher, but this is the first real potential turning point.Please note, this is a pair I am watching it is not a trade yet and may not become one. Please do your own due diligence before trading this highly volatile asset.

RetiredearlyFX is a trading name of the investment company Bagehotsway.We are not a regulated company but we only sell regulated products.We are not authorised to give investment advice.We believe all figures quoted to be accurate but past performance in no way guarantees future performanceTrading FX is high risk and not suitable for everyone.